Although its video streaming service sparkles with a Hollywood sheen, Netflix still taps its roots in Silicon Valley to stay a step ahead of traditional TV and movie studios. And the Los Gatos, California, company frequently reaches into its technological toolbox without viewers even realizing it.
Awards, including an Emmy, are displayed at Netflix headquarters Los Gatos, Calif. on March 7, 2024. Netflix wins awards for its shows like a Hollywood studio, but still relies on the sophisticated technology of a Silicon Valley company to reel in viewers and subscribers. FILE - Cast members pose upon arrival at the premiere for ‘The Crown’ season 6 finale, in London, Dec. 5, 2023.
“It is a secret sauce for us, no doubt,” Eunice Kim, Netflix’s chief product officer, said while discussing the nuances of the ways Netflix tries to reel different viewers into watching different shows. “The North Star we have every day is keep people engaged, but also make sure they are incredibly satisfied with their viewing experiences.”
Last year, video streaming services collectively suffered about 140 million account cancellations, a 35% increase from 2022 and nearly triple the volume in 2020, when the COVID-19 pandemic created a boom in demand for entertainment from people corralled at home, Netflix’s nerdy heritage once was mocked by an entertainment industry that looked down at the company’s geekdom.
What Netflix is doing with technology to retain subscribers to boost its fortunes — the company’s profit rose 20% to $5.4 billion last year — now is widening the divide with rival services still trying to stanch their losses.“We need to be at their level in terms of technology capability,” Iger said at a conference earlier this year. “We’re now in the process of creating and developing all of that technology, and obviously the gold standard there is Netflix.
Television Comedy California General News Domestic News Finance World News Scifi And Fantasy Annette Bening Business Entertainment Technology E Lifestyle Jodie Foster Jeff Bewkes L Movies World News
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Welcome to the AI dystopia no one asked for, courtesy of Silicon ValleyA couple of weeks ago, I rewatched Jurassic Park for probably the 10th time since the movie came out 30 years ago. (As an aside, it really holds up — 10/10, no notes.)
Read more »
Biden's Silicon Valley campaign fundraisers met with protestersPresident Joe Biden made multiple stops in the Bay Area on Friday, including two affluent towns in Silicon Valley, to raise money for his re-election campaign.
Read more »
Biden shores up Silicon Valley support despite lack of enthusiasmDavid Ingram covers tech for NBC News.
Read more »
Here Is What 6 Silicon Valley Giants Think About CryptocurrencyCrypto Blog
Read more »
Phoenix, Arizona — the Silicon Valley of chip manufacturing in the WestFunding from the CHIPS Act could expand Phoenix's growing influence, as Utah and other states also look to benefit.
Read more »
Silicon Valley billionaire Vinod Khosla loses bid to end Martins Beach access suitBillionaire venture capitalist Vinod Khosla was dealt a new setback in his 15-year fight to block public access through his private property to a popular surfing spot near Half Moon Bay.
Read more »